Monday, June 8, 2015

June 3, 2015 - Members of the Ottawa Real Estate Board sold
1,926 residential properties in May through the Board’s Multiple Listing
Service® system, compared with 1,789 in May 2014, an increase of 7.7
per cent. The five-year average for May sales is 1,812.

“The Ottawa housing market continued its strong performance in May,
making it the best May for unit sales on record since 2009,” says David
Oikle, President of the Ottawa Real Estate Board. “Units sold are up 357
since April, increasing in both the residential and condominium
property class.”
May’s sales included 342 in the condominium property class, and 1,584
in the residential property class. The condominium property class
includes any property, regardless of style (i.e. detached,
semi-detached, apartment, stacked etc.), which is registered as a
condominium, as well as properties which are co-operatives, life leases
and timeshares. The residential property class includes all other
residential properties.

“The average cumulative days on market remains consistent at 72 days,
compared to 74 last month,” says Oikle. “Properties are moving
consistently and inventory remains plentiful; labelling the Ottawa
market as a Buyers’ market and allowing for average sale prices to
remain very stable.”

The average sale price of a residential-class property sold in May in
the Ottawa area was $411,791, an increase of 2.6 per cent over May
2014. The average sale price for a condominium-class property was
$266,940, a decrease of 4.9 per cent over May 2014. The Board cautions
that average sale price information can be useful in establishing trends
over time but should not be used as an indicator that specific
properties have increased or decreased in value. The average sale price
is calculated based on the total dollar volume of all properties sold.

“The hottest segments of our market
for May were sales between $300,000 to $400,000, followed by the
$200,000 to $300,000 range and then the $400,000 to $500,000 range,”
says Oikle. “Two -storey residential properties sold surpassed 1,000
units this month, continuing to have the highest concentration of buyers
in Ottawa. In addition to residential and condominium sales, OREB
members assisted clients with renting 279 properties in May, and 1,155
since the beginning of the year.”Visit bennettpros.com for all your real estate.

Bennett Property Shop Realty

About Us

The Bennett Property Shop Realty is a one-of-a-kind boutique real estate brokerage in Ottawa, Canada, whose business philosophy is based on exceptional personal service, leadership, industry-leading innovative policies, and practices. At our core, we're a family-run business and our sales representatives are an extension of that family. Our team of professionals wear the Bennett name with pride with a full administrative staff, customer care department, and management team. The sales representatives on our team are supported by each department to ensure that our clients are serviced with a 5 star rating.

Our broker, team leader, founder, and shinning-star, Marnie Bennett, is an award-winning marketer who is one of Canada's most highly-regarded Real Estate marketing and sales consultants. With a team of 20 elite sales representatives who routinely go above and beyond the call of duty.Buying, selling, investing or marketing; residential or commercial; new construction or resale properties: wherever your interests lie, we have the expertise. Our sales volume speaks for itself with over 9,000 homes sold for top dollar since 1994 and over $3.1 Billion in residential sales.

In addition to our stellar 20 member real estate team, we have a committed marketing department that services builders and developers with innovative and result-driven marketing strategies. As a mark of both our initiative and achievement, we've forged ongoing business partnerships with top builders and developers from Ottawa, Toronto, and Montreal.